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1. Cora Jacq invested $20,000 cash in the company, as its sole owner. 2. Hired two employees to work in the office. They will each

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1. Cora Jacq invested $20,000 cash in the company, as its sole owner. 2. Hired two employees to work in the office. They will each be paid a salary of $2,000 per month. 3. Signed a 2-year rental agreement on an office; paid $24,000 cash for rent. 4. Purchased equipment costing $30,000; paid $6,000 now and the remainder on account. 5. Paid $2,100 cash for furniture. 6. Purchased basic office supplies for $520 cash. 7. Purchased more office supplies for $1,300 on account. 8. Total revenues earned were $50,000 : $38,000 cash and $12,000 on account. 9. Paid $400 to suppliers from item 7 . 10. Received $4,000 from customers in payment of accounts receivable. 11. Received utility bill in the amount of $490, to be paid next month. 12. Paid the monthly salaries of the two employees, totaling $4,000. Indicate the account debited and the account credited for each date. (If no entry is required, select "No Entry".) 1. Debit Credit 2. Debit Credit 3. Debit Credit 4. Debit Credit Credit Credit 6. Debit Credit 7. Debit Credit 8. Debit Debit Credit Debit Debit Credit 9. Debit Credit 10. Debit Credit 11. Debit Credit 12. Debit Credit

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